Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka Central Bank may take legal action if commercial banks do not reduce interest rates
Sat, Jul 19, 2014, 01:36 pm SL Time, ColomboPage News Desk, Sri Lanka.

July 19, Colombo: The Central Bank of Sri Lanka has the authority to resort to legal action if commercial banks do not further reduce their interest rates in line with the stipulated rates, Central Bank Governor Ajith Nivard Cabraal has said.

A recent survey conducted by the Central Bank has found that the commercial banks could further reduce their interest rates in line with low interest rates maintained by the Central Bank.

Central Bank Governor has said that the Central Bank had twice requested the commercial banks to reduce their interest rates and several banks had already responded and done so but some banks have not lowered their rates.

He has also pointed out that interest rates could only be reduced to a certain extent so as to maintain a balance between the deposit and lending interests.

ColomboPage - Recent 10 Stories
Sri Lanka will work with friendly countries to maintain maritime cooperation
-- [20 minutes ago]
Pakistan envoy expresses deep shock and grief over the demise of Sri Lankan President's youngest brother
-- [1 hour and 5 minutes ago]
Russia, Sri Lanka resolve standoff over stranded research vessel in Colombo
-- [7 hours ago]
Sri Lankan Tamil activist's daughter released from probation
-- [8 hours ago]
Sri Lankan President's brother dies, funeral on Monday at Polonnaruwa
-- [9 hours ago]
Four Indian Navy ships arrive at Sri Lanka's Trincomalee Port on a training mission
India, Sri Lanka agree to extend ongoing project assisting war-affected women in East
Deputy FM denies China's claim that Sri Lanka agreed to resume port project
Suspected attacker of Sri Lankan President's brother remanded
Sri Lankan PM tours Tamil heartland in a reconciliation bid

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.